Financial Times piece citing analysis
Global petrol demand set to drop as much as 50 per cent in some key markets
Oil refineries worldwide are preparing to slash processing rates
petrol becomes the next part of the oil market to become distressed
“It’s like the entirety of Europe, Africa and the Middle East combined stopped driving,” said Cuneyt Kazokoglu, FGE’s head of oil demand, about the drop in petrol usage in the US.